Global Home Potassium Monitoring Device Market Share Likely to Grow at a CAGR of 43.6% By 2033

According to Custom Market Insights (CMI), The Global Home Potassium Monitoring Devices Market size was estimated at USD 42.6million in 2021 and is expected to hit around USD 816.8million by 2030, poised to grow at a compound annual growth rate (CAGR) of 43.6% from 2023 to 2030.

The device used to monitor or analyze the potassium level in humans is a potassium monitoring device. These devices play a vital role in the field of medical science. 

Potassium is an electrolyte that is necessary for cell metabolism. It makes it easier for nutrients to enter and waste to leave cells. Additionally, it facilitates neuromuscular transmission, which is important for healthy muscular function. These tools measure the potassium levels in the blood and urine. Electrolytes are minerals with a charge that is present in bodily fluids. Potassium helps to regulate the body’s fluid balance and maintain a constant acid-base equilibrium, along with other electrolytes like sodium, chloride, and bicarbonate. Although the bulk of potassium is found in cells, it is present in all physiological fluids. It is relatively little in the fluids surrounding the cells and in the liquid component of the blood.

Devices used to track or check a person’s potassium levels are known as potassium monitoring devices. These tools are crucial in the field of medical science. As part of a metabolic or electrolyte panel to help identify and treat an electrolyte imbalance, this level is tested to determine whether potassium levels are within the normal range. It is important to monitor the therapy for conditions that could cause the body’s potassium levels to be abnormal.

Browse the full “Home Potassium Monitoring Device Market Size, Trends, and Insights By Type (Desktop, Portable, Others), By Application (Hospital, Clinic, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/home-potassium-monitoring-devices-market/

Market Dynamics.

Drivers.

With the prevalence of chronic renal illness, the necessity for potassium monitoring equipment has increased. Identification of diseases for disease control is now easier than ever, thanks to these gadgets. If the kidneys are not functioning properly, hyperkalemia may occur. The kidney’s task is to balance the potassium consumed and the potassium lost in the urine. People consume potassium through the meals they eat and the beverages they consume. It is excreted through urine after being filtered by the kidneys. The kidneys frequently compensate for high potassium levels in the early stages of renal disease. However, if kidney health declines, they might not be able to excrete enough potassium from the body. Hyperkalemia frequently results from advanced renal disease. Hyperkalemia can also result from eating too many foods high in potassium, especially in those who already have severe renal disease.

Bananas, orange juice, cantaloupe, honeydew melon, and other foods are rich in potassium. Diets high in sugar, salt, or fat can increase the chance of developing certain illnesses. The risk of diabetes, heart disease, stroke, and other illnesses can be reduced by eating healthfully. Lean meats, poultry, fish, beans, eggs, and nuts are all part of a healthy diet, which also places a low-fat or fat-free dairy product emphasis on vegetables, fruits, whole grains, and dairy products. Saturated and trans fats, salt, and added sugars are also kept to a minimum. The lack of knowledge about the food people is taking causes severe diseases, which influences the need for health monitoring devices such as potassium monitoring to determine the risk of severity and chances of recovery.

The impact of chronic kidney disease (CKD) on the world’s world health has been apparent lately; estimates of its prevalence range from 8 to 16% globally, which might result in millions of fatalities yearly. This year-on-year rise in such cases supports the rise in the monitoring devices market for potassium, which is responsible for most chronic kidney diseases.

The burden of chronic kidney disease (CKD) is rising globally due to the rise in non-communicable diseases (NCDs) and other risk factors. 10% of adult humans worldwide suffer from chronic renal disease. Chronic Renal Disease can be brought on by several illnesses, including diabetes, hypertension, vascular disease, and glomerulonephritis. Due to the high incidence of infections, glomerulonephritis and interstitial nephritis account for most chronic kidney disease patients in low-income countries and the aforementioned established causes. These reasons support the potassium monitoring devices market across the globe.

Restraints.

The symptoms of renal illness are simple to overlook. Many appear to be typical health issues and symptoms. It’sIt’s possible that more severe symptoms won’t emerge until renal failure has begun. Because of this, only 10% of persons with chronic renal disease are aware of their condition. The monitoring devices are among the most frequently used medical tools since they can screen for various cardiac disorders, the equipment is easily accessible in most medical institutions, and the test is straightforward, secure, and reasonably priced. The lack of knowledge may hamper the potassium monitoring devices in the market as the cases under consideration are fewer than the infected people.

Opportunities.

The new advancements in monitoring devices are rising to own the evolution of technology across the globe. The new technology has eased medical treatments and consultations. From teleconsultation to medication, it is all possible due to rising technology in the field of healthcare. The healthcare industry gains significantly from the fast advancement of technology.

In reality, modern imaging techniques enable cardiologists to examine CT angiograms with more precision and information to assist them in deciding how to treat coronary artery disease. HeartFlow is a novel imaging tool that makes it easier for doctors to decide if a patient requires an invasive operation to open clogged arteries or if a non-invasive therapy would suffice. Hence, technology is giving opportunities to advance the current monitoring devices in the market.

Challenges.

The knowledge of potassium monitoring devices and the changing pattern of potassium can be difficult sometimes. Inaccurate information is rare, but it can hamper the market for potassium monitoring devices. Moreover, not moving to new advanced devices to monitor health ailments may cause challenges for the market.

Report Highlights.

Based on type, the desktop segment is the leading segment and is expected to make the largest contribution to the potassium monitoring devices market. The correct information from the most advanced potassium monitoring devices is possible in the case of desktops as it is mostly used in hospitals where it is preferred to have the most advanced devices. As desktop is the only type that is accurate and efficient thus, the demand for such potassium monitoring devices is anticipated to grow at a dominant rate.

Based on application, the highest CAGR is projected for the hospital segment during the forecasted period. It provides medical, nursing, and allied services and has well-organized medical and other professional personnel and inpatient facilities. They provide treatment for acute and chronic disorders brought on by illnesses, accidents, and genetic defects. Hospital facilities are gaining traction in the potassium monitoring devices market. The hospital has a specialized team of doctors and associates, which requires more potassium monitoring devices; hence, the demand for such devices makes it the most dominant segment in the monitoring devices market.

Regional Snapshots. 

North America held a dominant position and is predicted to dominate during the forecast period in the potassium monitoring device market. The growing incidence of chronic illnesses in the area is primarily responsible for the increase. Additionally, the market is growing significantly due to the growing number of people with high or low potassium levels in their blood. Over half a million of the 20 million Americans with chronic renal disease have compromised kidney function and frequently need dialysis therapy.

The condition known as hyperkalemia, which occurs when blood potassium levels are increased over 3.5–5.5 mmol/L, is quite common in dialysis patients. Because symptoms frequently do not appear until potassium levels are extremely raised, hyperkalemia is regarded as a silent killer. This condition causes heart palpitations, muscular soreness, and weakness and may even lead to cardiac arrhythmia and death. Hence, this issue rises the demand for potassium monitoring devices in this region.

Report Scope

Key Players

• Abbott Laboratories
• Trinity Biotech
• Cardinal Health
• Cepheid
• bioMerieux
• Novartis
• Bio-Rad Laboratories
• F. Hoffmann La Roche
• Danaher
• Siemens Healthineers
• Trividia Health

 Recent Developments.

• AliveCor and AstraZeneca have established a new partnership to investigate novel disease management approaches in the therapeutic areas of cardiovascular, renal, and metabolism (CVRM). This partnership will create real-world illness management applications and solutions using the science and technology of potassium detection developed by AliveCor, enabling potassium assessment without needing blood draws.

Segments covered in the report

By Type

• Desktop
• Portable
• Others

By Application

• Hospital
• Clinic
• Others

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America